Posted by: Kaplan Schweser
Published: November, 2019
The Global Association of Risk Professionals (GARP) has announced changes to the FRM® Exam in 2020 to help candidates stay current on the essential knowledge and skills required of a risk management professional. Study materials and knowledge areas for Part I of the exam have been updated, and the fee is increasing. Part II has a new section and new topic weights. Let’s take a closer look at how the FRM Exam is changing.
The most noticeable changes to Part I of the FRM Exam are the registration fees, which are increasing as follows:
In addition, Part I Learning Objectives have new content designed to increase their effectiveness. Some knowledge areas have been updated, as well, especially in the sections on Foundations of Risk Management and Quantitative Analysis. GARP has also made the material more concise and has removed duplication.
All topics in the FRM Part I curriculum are featured in a new custom eBook that exam candidates will receive after registering. GARP will send them an email about how to access the eBook, which will also be available for purchase in print.
The FRM Part II exam has a Liquidity and Treasury Risk section, and the previous Operational Risk section is now called Operational Risk and Resiliency. Because of the new section, the topic weights for Part II have changed as follows:
In addition, other areas of the FRM Part II curriculum were updated to reflect the new liquidity and treasury risk section and the refocus of operational risk to include resiliency. (Get tips on how to answer Part II questions on these topics in this article.)
To help candidates understand what has been updated, these four guides are available for download from the GARP website:
For more details on the changes to the FRM Exam and its requirements, read our exam FAQ article.
Exam preparation packages can help. Learn more here.
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